FOREX USD JPY forecast — May 23, 2016


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Currency pair USD JPY Forex continues to test the upper limit of the downward channel. We have noted that there is the potential to complete the formation of the descending pattern is 1:1.

FOREX USD JPY forecast — May 23, 2016

FOREX USD JPY forecast — May 23, 2016

That implies a drop in prices, the yen the dollar to below the local minimum. Cancellation option drop in prices USD JPY pair will rise above the level of 110.30. We are trying to sell the yen against the US dollar with a close stop. An additional signal acts as a model failure swing on the indicator of relative strength. FOREX USD JPY forecast — May 23, 2016 suggests an attempt to rebound from the upper border of the descending channel, the goal is the area below the level of 104.

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